L3Harris Technologies Inc $LHX Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,879 shares of the company’s stock after selling 4,313 shares during the period. Cerity Partners LLC’s holdings in L3Harris Technologies were worth $12,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares in the last quarter. AGF Management Ltd. purchased a new stake in shares of L3Harris Technologies in the second quarter worth about $324,940,000. Boston Partners grew its stake in shares of L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after buying an additional 838,546 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of L3Harris Technologies by 946.6% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after buying an additional 709,948 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of L3Harris Technologies by 12.2% during the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after buying an additional 557,610 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 3.2%

NYSE:LHX opened at $286.15 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market capitalization of $53.52 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The stock has a 50-day simple moving average of $288.11 and a 200 day simple moving average of $273.78.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.L3Harris Technologies’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Sell-side analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

Analyst Ratings Changes

A number of equities analysts have weighed in on LHX shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research note on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target on the stock. Truist Financial boosted their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group raised their target price on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.00.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.